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Ethereum(ETH)

April 25, 2019 02:32

Updated

Ethereum is an open-source, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionally. It supports a modified version of Nakamoto consensus via transaction based state transitions. Ether is a cryptocurrency whose blockchain is generated by Ethereum platform. Ether can be transferred between accounts and used to compensate participant mining nodes for computations performed. Ethereum provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine(EVM), which can execute scripts using an international network. Gas is an internal transaction pricing mechanism which reduces spam and resources allocation on the network.

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